Invesco Ltd. lessened its stake in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 88.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 621,498 shares of the real estate investment trust's stock after selling 4,957,254 shares during the quarter. Invesco Ltd. owned approximately 0.37% of Service Properties Trust worth $1,579,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in Service Properties Trust by 20.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,554,256 shares of the real estate investment trust's stock worth $19,188,000 after buying an additional 1,259,382 shares during the period. Barclays PLC lifted its holdings in shares of Service Properties Trust by 310.6% during the third quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust's stock worth $1,279,000 after purchasing an additional 212,130 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Service Properties Trust during the fourth quarter worth $828,000. Wolverine Asset Management LLC grew its stake in shares of Service Properties Trust by 300.5% in the fourth quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust's stock worth $444,000 after purchasing an additional 131,237 shares during the last quarter. Finally, CM Management LLC increased its holdings in Service Properties Trust by 50.0% in the fourth quarter. CM Management LLC now owns 450,000 shares of the real estate investment trust's stock valued at $1,143,000 after purchasing an additional 150,000 shares during the period. 77.62% of the stock is currently owned by institutional investors and hedge funds.
Service Properties Trust Trading Up 7.3 %
NASDAQ SVC traded up $0.14 during mid-day trading on Tuesday, reaching $2.07. 3,184,939 shares of the stock were exchanged, compared to its average volume of 2,105,063. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market cap of $344.94 million, a P/E ratio of -1.41 and a beta of 1.77. The stock has a 50 day simple moving average of $2.29 and a 200-day simple moving average of $2.61. Service Properties Trust has a one year low of $1.71 and a one year high of $6.34.
Service Properties Trust (NASDAQ:SVC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.04. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%.
Service Properties Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, April 22nd. Service Properties Trust's payout ratio is -2.40%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Wells Fargo & Company upgraded Service Properties Trust from an "underweight" rating to an "overweight" rating and upped their price target for the company from $2.50 to $4.00 in a research report on Wednesday, March 19th. B. Riley initiated coverage on Service Properties Trust in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $2.00 target price on the stock.
Check Out Our Latest Stock Analysis on Service Properties Trust
About Service Properties Trust
(
Free Report)
Service Properties Trust Nasdaq: SVC is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of December 31, 2023, SVC owned 221 hotels with over 37,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service.
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